AE eMagazine

GM Compensation Fund Approves 24 Death Claims Related to Ignition Switch Recall

DETROIT, Mich. – The number of approved death compensation claims related to a recall of a faulty General Motors ignition switch now stands at 24, up from 19 last month, reported Michigan Live. The claims were approved by a fund set up by GM to compensate victims of a defective part in mid-to-late-2000s model cars ... Read More »

How To Rehash

Zurich’s Brian Vance Earns AFIP Master Certification

COLLEYVILLE, Texas – Brian Vance, Regional F&I Manager – Midwest Regional Office, of Zurich North America earned his master certification at an AFIP Certification Boot Camp in Overland Park, Kansas, in mid-August. Regarding his accomplishment, Vance said, “We’re very engaged with our clients in the area of compliance – more knowledge is always better.” Vance ... Read More »

Chrysler Capital, Santander Lower Cap on Dealer Participation

Chrysler Capital notified dealers on Sept. 26 that it is reducing its cap on dealer participation from two points to 1.75 points. Four days later, the company behind Chrysler Capital, Santander, said it is also reducing the cap to 1.75 points. The change, which took effect on Oct. 1, comes more than two weeks after ... Read More »

Former Dealership Employee to Serve 15 Months for Embezzlement

A Newport woman is going to federal prison for 15 months for her part in a $368,000 embezzlement scheme, the U.S. Attorney’s Office in Vermont said Monday, reported Burlington Free Press. Manon Cote, 47, had admitted to committing forgery between January 2007 and January 9, 2012 in connection with the money stolen from DeLaBruere’s Auto ... Read More »

Berkshire Hathaway to Acquire Van Tuyl Group

OMAHA, Neb. and PHOENIX, Ariz. — Van Tuyl Group, one of the largest privately-owned dealer groups in the United States, announced Thursday that it will be acquired by Warren Buffet’s Berkshire Hathaway Inc., the billionaire’s holding company. After the acquisition, the group will be known as Berkshire Hathaway Automotive. The Van Tuyl Group, which has ... Read More »

Marchionne Upbeat on Landmark Fiat Chrysler Listing

With the landmark listing of Fiat Chrysler Automobiles less than two weeks away, CEO Sergio Marchionne has a clear criterion for success: more than half of the merged company’s shares changing hands in New York instead of Milan, reported Reuters. “If we do more volumes in New York than we do in Milan, that’s a ... Read More »

GM Caps Week With Three New Recalls

General Motors Co. capped the week by issuing three new recalls covering almost 60,575 vehicles in North America — the biggest for an ignition switch issue on some Pontiac G8 and Chevrolet Caprice police patrol vehicles, reported The Wall Street Journal. The auto maker has now issued six separate recalls over the past three days ... Read More »

Torrid U.S. Car Sales Pace Slowed in September

U.S. auto sales in the third quarter were the best in eight years, but mixed September results from leading automakers on Wednesday indicated the industry’s torrid summer pace is slowing, reported Reuters. Industry sales in September rose 9 percent, to 1.24 million vehicles, according to research firm Autodata, just missing expectations of nine analysts surveyed ... Read More »

General Motors Gives Aggressive Outlook

American consumers are buying new cars and trucks at the strongest pace in years, offsetting car makers’ troubles elsewhere and leading the biggest U.S. auto maker to forecast fat profits ahead, reported The Wall Street Journal. Overall U.S. sales rose 9% last month compared with the same period in 2013 to a nearly decade high. ... Read More »